First Busey (NASDAQ:BUSE) President Mike Maddox Acquires 1,000 Shares

First Busey Corporation (NASDAQ:BUSE) President Mike Maddox acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were bought at an average price of $25.52 per share, for a total transaction of $25,520.00. Following the acquisition, the president owned 40,280 shares of the company’s stock, valued at approximately $1,027,945.60. This represents a 2.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

First Busey Stock Performance

BUSE stock traded up $0.05 during trading on Friday, reaching $24.23. The company had a trading volume of 171,453 shares, compared to its average volume of 500,904. The firm has a 50-day simple moving average of $23.12 and a 200-day simple moving average of $23.31. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 21.06 and a beta of 0.80. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.91. First Busey Corporation has a twelve month low of $18.40 and a twelve month high of $27.26.

First Busey (NASDAQ:BUSE) last issued its quarterly earnings results on Friday, May 20th. The bank reported $0.69 earnings per share (EPS) for the quarter. The business had revenue of $63.34 million for the quarter. First Busey had a net margin of 11.00% and a return on equity of 9.05%. As a group, sell-side analysts expect that First Busey Corporation will post 2.61 earnings per share for the current year.

First Busey Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Friday, October 24th were paid a $0.25 dividend. The ex-dividend date was Friday, October 24th. This represents a $1.00 dividend on an annualized basis and a yield of 4.1%. First Busey’s dividend payout ratio (DPR) is 86.96%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Raymond James Financial reaffirmed an “outperform” rating and set a $26.00 price target (down previously from $28.00) on shares of First Busey in a research report on Thursday, October 30th. Piper Sandler decreased their target price on First Busey from $30.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of First Busey in a research report on Monday. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $26.33.

Hedge Funds Weigh In On First Busey

A number of institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted its stake in shares of First Busey by 94.4% in the third quarter. Wellington Management Group LLP now owns 7,135,906 shares of the bank’s stock worth $165,196,000 after buying an additional 3,464,965 shares during the last quarter. Vanguard Group Inc. lifted its holdings in First Busey by 52.2% in the first quarter. Vanguard Group Inc. now owns 4,706,925 shares of the bank’s stock valued at $101,670,000 after acquiring an additional 1,613,848 shares during the period. Dimensional Fund Advisors LP lifted its holdings in First Busey by 45.6% in the first quarter. Dimensional Fund Advisors LP now owns 5,096,605 shares of the bank’s stock valued at $110,086,000 after acquiring an additional 1,596,262 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in First Busey in the 1st quarter worth approximately $19,861,000. Finally, Mirabella Financial Services LLP acquired a new stake in shares of First Busey during the 2nd quarter worth approximately $20,113,000. Hedge funds and other institutional investors own 56.49% of the company’s stock.

First Busey Company Profile

First Busey Corporation operates as the bank holding company for Busey Bank that engages in the provision of retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. It operates through three segments: Banking, Wealth Management, and FirsTech.